Press Conference by the Commissioner

(Excerpt)

June 21 , 2004

Q.

At the end of last week, the Financial Services Agency (FSA) issued four Business Improvement Orders to the UFJ group. I think this is an extremely unusual situation. From this point on, what kind of supervisory policies will the FSA take in regard to UFJ?

A.

As you mentioned, at the end of last week we made four Business Improvement Orders, and we find this situation very regrettable. With these actions, the FSA has ordered development, submission, and steady implementation of a business improvement plan. We would like to support and supervise these steps appropriately.

We hope that UFJ will dedicate every effort to restoring trust and ensuring that the situation like this will never happen again.